the boc group plc   - BOC INVESTOR RELATIONS  
          Annual review and summary financial statements 2004   - ANNUAL REPORT 2004  
  HIGHLIGHTS   CHAIRMAN'S STATEMENT   CHIEF EXECUTIVE'S REVIEW   IMPLEMENTING OUR STRATEGY AROUND THE WORLD   OPERATING REVIEW   CORPORATE RESPONSIBILITY   OUR KEY PEOPLE   RESULTS  
                                 



 
SEEING CLEARLY...
where improvements can be made
 
HYDROGEN
A fuel of the future that delivers environmental benefits today
 
INTELLIGENT DELIVERY
How Marks & Spencer and Gist brought RFID to the retail world
 
MOVING TO WORLD-SCALE
Developments in Asia continue to change the economic map of the world
 
THE BUILDING BLOCKS OF SUCCESS
Investing in the growth businesses of the future
 

* The only emission from this bus is water vapour.

This bus is taking part in a trial. It and ones like it are on the streets of London, England and Perth, Australia carrying passengers for a living. But unlike other buses, it's virtually silent and its exhaust emission is water vapour, pure and simple, because it's a bus running on electricity from fuel cells driven by hydrogen.

The word is out that hydrogen could be the fuel of the future. Clean, efficient and plentiful, especially when derived from renewable resources, it is a strong candidate to succeed hydrocarbons later in the century. Right now, its most important role is in helping make the hydrocarbons we burn in our cars more environmentally-friendly by removing sulphur from oil as part of the refining process. Hydrogen also helps refiners extract more light products from barrels of heavier crude oil.

This year BOC has won contracts that will increase the amount of hydrogen we supply to the refining industry by a quarter. We already operate the southern hemisphere's largest hydrogen plant serving BP's refinery at Bulwer Island in Australia. We are now building one of the largest hydrogen plants in the US to supply BP and Sunoco refineries at Toledo in Ohio.

The role that hydrogen has to play in the future energy needs of the world still has to be worked through. As oil becomes less plentiful and more expensive the search intensifies for alternative fuels that combine oil's flexibility and availability. And hydrogen is a contender for the leading role.